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 Obama sells investment with link to Sudan
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Obama sells investment with link to Sudan
Thursday 17 May 2007 01:56. Printer-Friendly version Comments...
By Brody Mullins
May 16, 2007 (WASHINGTON) — Sen. Barack Obama said today that he sold about $180,000 in retirement savings because it was linked to an oil services company that does business in Sudan.
As part of their retirement plan with the University of Chicago, Obama and his wife held $180,000 in the Vanguard Wellington Fund. When filing out the financial disclosure forms required to run for president, Obama discovered that about 0.46% of the funds in the Vanguard account are invested in Schlumberger Ltd., the world’s largest oilfield services company. Because Schlumberger does business in Sudan, Obama transferred the $180,000 in that fund to the Vanguard FTSE Social Index Fund.
In a statement, Obama said the investments were checked using an online screening tool from the Sudan Divestment Task Force.
Other candidates have also filed their disclosure reports or sought extensions.
(Wall Street Journal)
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